According to Fact.MR, global intumescent coating sales are projected to grow at a CAGR of approximately 3%, surpassing US$ 1 billion by 2031, with passive fire protection emerging as a key application area. The oil & gas industry is expected to account for over 40% of global intumescent coating demand, driven by extensive exploration and extraction activities in key regions.

Intumescent coatings are widely used across various end-use industries, including building & construction, industrial, and aerospace, for passive fire protection. These coatings act as a fire-resistant barrier for substrates, helping to delay the spread of fire and allowing for quicker rescue and evacuation efforts during emergencies.

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According to the World Health Organization (WHO), approximately 180,000 deaths occur annually due to fires, with additional fatalities resulting from scalds, electrical burns, and other types of burns. Over 90% of these deaths occur in low- and middle-income countries. While many burn injuries are accidental and happen in residential settings, a significant portion arises from fire hazards in industrial environments. To mitigate these tragedies, key industries are increasingly adopting intumescent coatings as a crucial safety measure.

Key Takeaways from Market Study

Intumescent coatings for oil & gas to generate more than 40% revenue through 2031
By resin, epoxy intumescent coatings to surpass US$ 175 million valuation by 2031
Polyurethane-based intumescent coatings to record CAGR of nearly 4% throughout the forecast period
Demand across the U.S. surpassed US$ 240 million in 2020, amid extensive uptake to reduce fire hazards
Market in China to expand at over 5% CAGR and reach more than US$ 220 million by 2031, amid growing presence of independent oil & gas exploration ventures
“Increasing demand for enforcing fire safety norms is escalating uptake of advanced grade intumescent coatings across key end-use industries, stimulating market growth and widening revenue prospects,”

Why is the Oil & Gas Industry a Prominent End User of Intumescent Coatings?

By end-use industry, the oil & gas industry is expected to generate over 2/5 of the global revenue share by 2031. Increasing investments in exploration activities, deep-water projects, and refining capacity are pivoting demand.

Demand is especially high as episodes of on-site fire hazards are quite frequent. Intumescent coatings significantly help by offering passive protection to steel structures such as oil rigs and drilling machines, swelling as heat increases.

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Competitive Landscape

Prominent manufacturers are employing strategic initiatives such as geographical expansion, partnerships, mergers and acquisitions, and new product launches to strengthen their market presence. Notable developments include:

In March 2021, Akzo Nobel partnered with QLayers to acquire a stake in the company’s industrial coatings portfolio, as part of Akzo Nobel’s Paint the Future collaborative innovation ecosystem.
Also in March 2021, Hempel A/S opened a new R&D campus in Copenhagen, Denmark. This facility aims to serve as a hub for international scientists, accelerating the development of innovative solutions.
In January 2021, Albi Protective Coatings received GREENGUARD Gold Certification for four of its products: Albi Clad TF+, Albi Clad TF, Albi Clad FP, and Albi Cote FRL-X, highlighting its commitment to sustainability and product safety.
Key Companies Profiled

Akzo Nobel
Jotun
Contego International Inc.
Hempel A/S
Albi Protective Coatings
BASF SE
Rudolf Hensel GmbH
The Sherwin Williams Company
No Burn Inc.
Demilec Inc.
Sika AG
Teknos Group Oy
Nullifire Ltd.
PPG Industries Inc.
3M Company
Gangotri Hi-Tec Coatings
Carboline Company
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Key Market Segments Covered

Resin Type
Epoxy Intumescent Coatings
Acrylic Intumescent Coatings
Polyurethane Intumescent Coatings
Alkyd Intumescent Coatings
Other Resin Types Intumescent Coatings
End-Use Industry
Intumescent Coatings for Building & Construction
Intumescent Coatings for Automotive
Intumescent Coatings for Oil & Gas
Intumescent Coatings for Other End-Use Industries
Region
North America
U.S.
Canada
Europe
Germany
U.K.
France
Italy
Spain
Russia
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Australia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Argentina
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of MEA
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